• Wealth and poverty

    True riches would be to create a safe and satisfied community for all South Africans.

  • SABC shenanigans

    SA has already embarked on a slippery slope to autocracy, warns Terry Bell in Inside Labour.

  • Zim tastes people power

    Protests in Zimbabwe are forcing Mugabe to face anti-government sentiment, says Memory Mataranyika.

All data is delayed
Loading...
See More

Dollar soars on Bank of Japan's easing

Sep 19 2012 07:54
AFP

Tokyo - The dollar soared against the yen in Asia on Wednesday as the Bank of Japan announced additional monetary easing, boosting an asset-purchasing fund by ¥10 trillion to ¥80 trillion.

The greenback was changing hands at ¥79.11 in Tokyo afternoon trade, up from ¥78.65 earlier in the day, before the BoJ announcement, and ¥78.80 in New York late on Tuesday.

The euro also rose against the Japanese currency, buying ¥103.39 against ¥102.52 earlier on Wednesday and ¥102.79 in New York. The common currency was at $1.3067 against $1.3044 in US trade.

The benchmark index at the Tokyo Stock Exchange gained more than 1.6% to its highest level in four months.

The BoJ announcement was more aggressive than expected and surprised investors, Tsunemasa Tsukada, chief manager of Mitsubishi UFJ Trust and Banking, said.

"Whether or not this gain will form a sustained trend will depends on the monetary policy outlook," Tsukada told Dow Jones Newswires.

Against other Asia-Pacific currencies, the US dollar fell to 54.02 Indian rupees from 54.28 rupees on Tuesday, to 30.80 Thai baht from 30.88 baht, to Tw$29.32 from Tw$29.33, to 1,115.70 South Korea won from 1,118.10 won.

It also fell to 41.60 Philippine pesos from 41.71 pesos and to Sg$1.2239 from Sg$1.2248.

The dollar gained to 9,542 Indonesian rupiah from 9,492 rupiah.

China's yuan rose to ¥12.45 from ¥12.41while the Australian dollar fell to $1.0453 from $1.0464.


*Follow Fin24 on Twitter, Facebook, Google+ and Pinterest.

bank of japan  |  dollar  |  markets  |  yen

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

We're talking about:

THE SAVINGS ISSUE

Saving can make a lot of things possible, but we all know how hard it is to save. This special Savings Issue will help you get focused.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

Sarb's decision to keep the repo rate unchanged is:

Previous results · Suggest a vote

Loading...